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Matrix AI Network: Green Paper to democratize AI and overcome the four fundamental problems of blockchain: low transaction speeds, lack of security, difficulty of use and wasted resources.

Biweekly update 27th June — 11th July

During the last two weeks Matrix AI Network illustrated average level of social activity. The main keynote was Matrix 2.0 Green Paper publication aimed at making AI technology more accessible and affordable. The new Green Paper highlights important upcoming milestones in the transition from Matrix 1.0 to the Matrix 2.0 ecosystem. This Paper goes into details on the specifics of the Matrix 2.0 ecosystem architecture, and how Matrix 2.0 handles data attribution, distributed AI model training, blockchain storage, compute node management, payments and Industry 4.0. Matrix AI Network is deservedly considered to be one of the most promising new technology companies. Looking forward to new updates from Matrix. Stay tuned!

Development

Github metrics
Developer activity (from Coinlib.io)

Social encounters

Matrix AI Network, a global, open-source, blockchain-powered decentralized computing platform, and operating system, has recently published Matrix 2.0 Green Paper detailing its plans to revolutionize and democratize the field of Artificial Intelligence.

Whether it’s artificial intelligence (AI), machine learning, robotic process automation or the blockchain protocol, emerging technologies are moving at an incredible pace. However, these emerging technologies are still functioning in a somewhat fragmented nature — especially in the cryptocurrency and blockchain technology arena.

Recognizing the need to utilize these emerging technologies within the future of decentralization, MATRIX AI Network has built an innovative blockchain protocol that embraces the many benefits of AI and machine learning.

Energy-inefficient blockchains are wasting energy at an alarming rate

One of the overarching concerns of the blockchain space is the amount of energy required to keep networks operational 24/7. In fact, with 90% of Bitcoin mining costs attributable to energy consumption, the platform required a whopping 30 terawatt hours of electricity in 2017 alone. With public attitudes towards building a greener world getting stronger and stronger, this just won’t suffice.

Taking these environmental woes into account, the MATRIX blockchain allows artificial intelligence to guide the consensus mechanism process. In doing so, the MATRIX blockchain is able to optimize its underlying performance based on the current state of the network. By achieving an equilibrium, transactions are processed efficiently without needing to utilize significant amounts of energy.

The MATRIX blockchain also utilizes an innovative hybrid consensus mechanism which merges the benefits of proof-of-work (PoW) and proof-of-stake (PoW). This allows the blockchain to absorb the ultra-high security features associated with PoW, alongside the speed and efficiencies of PoS.

The future of AI-driven smart contracts

When smart contracts were first brought to the online blockchain space by Ethereum in 2015, the phenomenon completely revolutionized how we transact. By removing the need to trust the other transacting party, users can effectively operate without the use of a third-party middleman.

However, more than four years later, the actual process of designing and building smart contracts is still reserved for those with the necessary technical capabilities. With such a small proportion of the online community able to program, this makes it ultra-challenging for smart contract technologies to go mainstream.

With this in mind, by integrating AI within the smart contract building process, the MATRIX platform allows anyone to engage. MATRIX enables users to deploy a smart contract in their own natural language, subsequently opening up the doors to the masses. As such, whether of what your natural language is, you’ll have the opportunity to deploy a smart contract on the MATRIX network.

Moreover, the underlying AI integration also enables MATRIX smart contracts to go through an autonomous validation process before they are deployed to the network. If the smart contract in question contains a particular vulnerability or bug, the AI-backed protocol will be able to flag this up before it is deployed to the network. This further contributes to keeping the MATRIX blockchain safe and secure.

What is MATRIX?

MATRIX is a China-based blockchain project that aims to take the potentialities of blockchain technology to the next level. By utilizing the advanced capabilities of AI and machine learning within its blockchain framework, MATRIX benefits from faster, safer, and more efficient transactions.

Its PoW and PoS hybrid consensus mechanism ensures that transactions can scale, without the need to consume vast quantities of energy.

The bottom line?

In conclusion, it is reasonable to suggest that emerging technologies such as AI and machine learning will play a crucial role in the future of blockchain technology. As revolutionary as cryptocurrencies and their underlying blockchains have been, the industry can take things to the next level by embracing the capabilities of AI-backed networks. This vision is being spearheaded by blockchain platforms like MATRIХ.

Matrix AI Network was mentioned in the article:

<…>

In addition to China’s tech giants, like Baidu, Alibaba, and Tencent, which have been investing heavily in the blockchain, it’s the emerging technology scene that is generating a lot of excitement right now. Take for example one of China’s most promising new technology companies, MATRIX AI Network, a global open-source, public, intelligent blockchain-based distributed computing platform and operating system that combines artificial intelligence and blockchain. In 2018, MATRIX AI Network announced that it was the only blockchain project to secure a strategic partnership with China’s trillion-dollar One Belt One Road (OBOR) initiative, an ambitious state-sponsored effort to recreate the ancient Silk Road by connecting 65 countries with the advanced logistics, financial clearing and payment processing possible with blockchain.

The proliferation of blockchain technology, with the support and encouragement of the Chinese government, is ushering in an unprecedented era of advancement in healthcare, fintech, logistics, supply chain management, e-commerce and more. Not so long ago, China was accused, not unfairly, of copying the world’s best technology. But when it comes to the blockchain, it is looking more and more like the world is racing to copy and catch up to China.

See also:

Matrix CEO Owen Tao and Matrix CTO Bill Li answer community questions regarding the Matrix 2.0 Green Paper.

Finance

The number of transactions (information from tom.matrix.io/home)
Source

See also:

Roadmap

The Matrix team is excited to release the Matrix 2.0 Green Paper. Over the past years, the Matrix team has been hard at work using AI technology to overcome the four fundamental problems of blockchain: low transaction speeds, lack of security, difficulty of use, and wasted resources. With Matrix 2.0, the focus turns to improving AI itself. With Matrix 2.0, the team uses blockchain to verify data assets, ensure data privacy and manage computing power resources. The ultimate goal is to train AI models to make AI technology more accessible and affordable. Matrix is aiming to advance the practice of AI technology.

MATRIX 2.0

Computing Power

Matrix 1.0 has already largely addressed the issues relating to computing power. The team created a more environmentally friendly network with limited computing power wastage. Using Matrix’s proprietary HPoW selection algorithm, only a small subset of the network’s computing power is used for mining activities. The remaining idle computing power can be redirected towards more meaningful tasks to create value in fields like cancer diagnosis, graphical image recognition, financial modeling and more.

Data

AI models are only useful if trained with high-quality data models. However, as the concept of “data oil” becomes ever more prominent, so do issues relating to data privacy and data ownership. In order to advance the integration of multi-dimensional data and break through the “data island” states, Matrix 2.0 relies on blockchain and distributed storage technologies.

AI Models and Industry 4.0

In industry 4.0, AI algorithms and models will become the core competitive power of “Digital Economy”. AI technology and a big data enable Matrix to train AI models that can be directly applied in industrial environments. In Matrix 2.0, a blockchain-based AI economy will be developed centering on data, computing power and algorithm models.

AI Models and People: The Strength of Matrix 2.0

Matrix is creating a blockchain data platform where users — both enterprise and individual — can share their data and receive rewards. When data is uploaded, Matrix 2.0 uses the blockchain to verify data ownership. This mechanism also serves to protect the data from theft as data is stored in distributed storage using cryptographic technologies. At the same time, any users who use the uploaded data to train AI models will pay data owners.

Data owner receive rewards by uploading data. AI model owners user the data to train their AI models. Matrix 2.0 is suitable for both individual and enterprise users. The Matrix AI Network is also developing more accessible interfaces according to individual user needs.

Perpetual Blockchain Growth

The Matrix AI Network blockchain operating system will offer a range of services to developers, including oracle services, multi-chain management, middleware solutions, smart contract creation, Dapp development, and a range of plug-ins. The Matrix AI Network blockchain will also offer users a selection of modules and services so that they can customize their own blockchain solutions.

In Matrix 2.0, Matrix AI Network Mining Masternodes provide computing power. They form the hardware layer of Matrix 2.0. Bandwidth and storage providers provide offer distributed storage space and form the data and AI model layers. Data uploaded by users form a fluid multi-dimensional data platform — the software foundation of Matrix 2.0. Blockchain and distributed storage technologies are used to manage computing power, data and AI models to ma 2.0 a decentralized “AI lifecycle” platform.

What’s next?

  • GPU mining will be available in the summer of 2019.
  • FPGA mining will be available by the end of 2019.
  • Up to 10 DAPPS by the end of 2019
  • Both Android and IOS versions of wallet will be released by the end of June

Partnerships and team members

No updates

Rumours

No updates

Social media metrics

Social media activity
Social media dynamics
Social media dynamics

The chart above illustrates a slight decline in the number of Twitter followers. In general, Matrix AI Network experiences average level of social activity.

  • Twitter (Matrix AI Network) — official announcement channel (100–400 likes per publication).
  • Facebook — official announcement channel — duplicates news from Twitter (10–20 likes per publication).
  • Reddit — news about projects and blockchain, links to interviews, podcasts, upcoming events.

The graph above shows the dynamics of changes in the number of Matrix AI Network Reddit subscribers, Twitter followers and Facebook likes. The information is taken from Coingecko.com

This is not financial advice.

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Paradigm is an ecosystem that incorporates a venture fund, a research agency and an accelerator focused on crypto, DLT, neuroscience, space technologies, robotics, and biometrics — technologies that combined together will alter how we perceive reality.

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